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☆ Gold ticks up, U.S. inflation data in focus
▼ + stars: | 2024-10-10 | by ( ) www.cnbc.com time to read: +2 min

Gold prices nudged higher on Thursday, while traders await a key U.S. inflation data due later in the day to gauge the Federal Reserve's future monetary policy stance. Spot gold rose 0.2% to $2,614.00 per ounce by 0246 GMT, after easing for the previous six sessions. The U.S. Consumer Price Index for September is due at 1230 GMT and Producer Price Index data on Friday. Markets see an 80% chance of a 25-basis-point Fed rate cut in November. Dallas Fed Bank President Lorie Logan called for gradual cuts and said that the U.S. central bank should not rush.

Persons: Price, Ilya Spivak, Spivak, Mary Daly, Lorie Logan, Israel's Organizations: U.S, Consumer, Treasury, Fed, San Francisco Fed Bank, Dallas Fed Bank Locations: U.S, Iran

☆ Gold lacks momentum as investors brace for Fed minutes
▼ + stars: | 2024-10-09 | by ( ) www.cnbc.com time to read: +2 min

Gold prices slipped on Thursday as investors booked profits after a sustained rally and pressure from institutional investors looking to raise cash, while focus shifted to U.S. economic data for clues on the Federal Reserve's rate path. Gold prices were subdued on Wednesday as investors strapped in for minutes from the Federal Reserve's latest policy meeting for insights into the U.S. central bank's interest rate trajectory. "Gold prices seem to be seeing a much-needed retracement lower. Boston Fed President Susan Collins said on Tuesday that weakening inflation trends make it likely the U.S. central bank can implement further interest rate cuts. Zero-yield bullion tends to thrive in a low interest rate environment.

Persons: I'm, Matt Simpson, Simpson, Susan Collins Organizations: Federal, Index, Traders, U.S . Consumer, Boston, Gold Locations: U.S, North America

☆ Gold eases as dollar firms; focus on Fed cues, U.S. data
▼ + stars: | 2024-10-08 | by ( ) www.cnbc.com time to read: +2 min

Spot gold was down 0.2% to $2,639.45 per ounce, as of 0303 GMT. U.S. gold futures lost 0.3% to $2,658.70. The dollar index hovered near a seven-week high, making bullion more expensive for holders of other currencies, while the benchmark U.S. Treasury 10-year yield topped 4% for the first time in more than two months. Investors are focused on the minutes of the Fed's latest policy meeting, due on Wednesday, followed by the U.S. Consumer Price Index on Thursday and the Producer Price Index data on Friday. "Looking ahead, if we see any upside surprises in the U.S. CPI numbers this week, this could boost further boost the dollar and pressure gold," Waterer added.

Persons: Gold, Tim Waterer, Israel, Bullion, Waterer, Louis, Alberto Musalem Organizations: Treasury, KCM Trade, U.S . Consumer, U.S, CPI, Louis Fed Locations: Singapore, Haifa, Lebanon, Gaza, St

☆ Gold rangebound as investors brace for key U.S. economic data
▼ + stars: | 2024-10-03 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were trading in a tight range on Thursday as traders remained on the sidelines ahead of a key U.S. economic data that may provide clues about the size of the Federal Reserve's interest rate cuts expected later this year. Gold prices were trading in a tight range on Thursday as traders remained on the sidelines ahead of a key U.S. economic data that may provide clues about the size of the Federal Reserve's interest rate cuts expected later this year. Investors are watching out for the ISM services data and the initial jobless claims, due later in the day, along with the U.S. non-farm payroll data expected on Friday. Gold tends to thrive in a low interest rate environment and political turmoil. Elsewhere, Perth Mint's gold product sales touched a 10-month high in September, while silver sales hit a seven-month high.

Persons: Brian Lan, —, CME's, Lan Organizations: GoldSilver Central, Investors, U.S . Locations: Singapore, Israel, Beirut, Iran, Perth

☆ Gold prices flat as dollar strength counters safe-haven demand
▼ + stars: | 2024-10-02 | by ( ) www.cnbc.com time to read: +2 min

Gold bar bullions ingot, selective focus, crisis safe haven for investment or reserve for country economics. Gold prices were flat on Wednesday, as a firmer dollar partially offset safe-heaven demand amid heightened Middle East tensions, while investors awaited U.S. data for further economic cues. Spot gold held its ground at $2,659.79 per ounce, as of 0325 GMT, after rising more than 1% in the previous session. "Gold benefited from safe-haven demand during a risk-off session on Tuesday. Meanwhile, physical demand for gold in key markets has dropped due to high prices, with some retail consumers selling their holdings to lock in profits, industry players and analysts said.

Persons: Benjamin Netanyahu, Bullion, Matt Simpson, payrolls, Simpson Organizations: Israel, Index, Federal Reserve, NFP, Traders Locations: Iran, Tehran

☆ Gold pulls back but dovish Fed sets it for best quarter since 2016
▼ + stars: | 2024-09-30 | by ( ) www.cnbc.com time to read: +2 min

Ingots of 99.99 percent pure gold are placed in a workroom at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, January 31, 2023. Spot gold was down 0.2% at $2,653.38 per ounce, as of 0404 GMT, owing to a rise in the U.S. dollar . A stronger dollar makes gold less attractive for other currency holders. Bullion has risen slightly over 14% so far this quarter, its best since January 2016. This boosted expectations of an another outsized interest rate cut at the Fed's November policy meeting.

Persons: Tim Waterer, nonfarm, Jerome Powell, Michelle Bowman, Waterer Organizations: U.S ., Federal, KCM, U.S, Sunday Locations: Siberian, Krasnoyarsk, Russia, U.S, Israel, Yemen, Lebanon

☆ Gold, silver head for weekly gains on U.S. rate-cut momentum
▼ + stars: | 2024-09-27 | by ( ) www.cnbc.com time to read: +2 min

Gold and silver prices retreated on Friday from record highs, but were positioned for weekly gains on growing anticipation of another bumper U.S. interest rate cut this year, as markets awaited a key inflation report for additional guidance. Gold and silver prices retreated on Friday from record highs, but were positioned for weekly gains on growing anticipation of another bumper U.S. interest rate cut this year, as markets awaited a key inflation report for additional guidance. Silver prices surged due to bullion's strong performance and China's stimulus measures, though some analysts warn that the rally may fade due to concerns over industrial demand. The Federal Reserve's larger-than-usual half-percentage-point reduction last week ignited a rally in gold, which hit consecutive record highs and has gained about 1.8% so far this week. Gold prices are currently supported by anticipated U.S. Fed interest rate cuts and China's stimulus measures, both of them are weakening the dollar, said Kyle Rodda, financial market analyst at Capital.com.

Persons: Kyle Rodda Organizations: FedWatch, U.S, BMI Locations: U.S

☆ Gold lingers near record highs, Powell's speech eyed for rate cues
▼ + stars: | 2024-09-26 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were steady on Thursday, hovering close to record highs, on expectations of another big U.S. rate cut this year, although gains were limited ahead of remarks by key Federal Reserve policymakers later in the day. Gold prices were steady on Thursday, hovering close to record highs, on expectations of another big U.S. rate cut this year, although gains were limited ahead of remarks by key Federal Reserve policymakers later in the day. Bullion has risen nearly 29% so far in 2024 and hit record highs several times this year, largely fueled by monetary policy easing by major global banks and geopolitical concerns. Last Wednesday, the Fed delivered a 50-basis-point rate cut, with traders seeing a 62% chance of an additional half-percentage-point reduction in November, according to the CME FedWatch Tool. Additionally, U.S. jobless claims data on Thursday and the core personal consumption expenditure index — the Fed's preferred inflation — on Friday, will be eyed for further rate cues.

Persons: Tim Waterer, Bullion, Jerome Powell, John Williams, Michael Barr, Nicholas Frappell Organizations: U.S ., KCM, Fed, New York Fed, ABC Refinery Locations: .

☆ Gold touches record high on rate-cut bets, weaker U.S. dollar
▼ + stars: | 2024-09-25 | by ( ) www.cnbc.com time to read: +2 min

Gold bars sit in a vault at the Perth Mint Refinery, operated by Gold Corp, in Perth, Australia, on August 9, 2018. Gold hit a record high on Wednesday, boosted by a softer U.S. dollar and hopes of more interest rate cuts, while investors looked for new signals for the Federal Reserve's interest rate trajectory. Spot gold was steady at $2,658.08 per ounce, as of 0557 GMT, after hitting an all-time high of $2,670.43 earlier. On Tuesday, China announced a slew of support measures including outsized rate cuts, after the U.S. Fed cut rates by 50 basis points last week. Inflows to gold exchange-traded funds, particularly from Western investors, will rise in the coming months, providing further support for record-high bullion prices, analysts said.

Persons: Gold, Kelvin Wong, OANDA's, Wong, Michelle Bowman, Jerome Powell's, heightening Organizations: Perth Mint Refinery, Gold Corp, U.S, Fed, Asia Pacific, Traders Locations: Perth, Australia, China, Beirut

☆ Gold holds ground on dovish Fed-speak, Mideast concerns
▼ + stars: | 2024-09-24 | by ( ) www.cnbc.com time to read: +1 min

Gold prices steadied on Tuesday after surging to a record high in the previous session, following broadly dovish comments from U.S. Federal Reserve officials and escalating tensions in the Middle East. Bullion hit a record high of $2,635.29 on Monday. "Gold prices continue to be well-supported amid a series of dovish Fed rhetoric overnight," said IG market strategist Yeap Jun Rong. Chicago Fed Bank President Austan Goolsbee said there are "lots of cuts" to come over the next 12 months, while Fed President Neel Kashkari noted that the actual path would depend on incoming data. "Tensions in the region will likely be kept high for longer, which could see gold prices retain its bullish bias."

Persons: Yeap Jun Rong, Austan Goolsbee, Neel Kashkari Organizations: U.S . Federal Reserve, Chicago Fed Bank, Hezbollah Locations: U.S, ., Israel, Lebanon

☆ U.S. rate cut, geopolitical woes lift gold to record high
▼ + stars: | 2024-09-23 | by ( ) www.cnbc.com time to read: +2 min

Gold prices extended gains to scale a record high on Monday, driven by the momentum generated by the Federal Reserve's interest rate cut and safe-haven demand due to geopolitical risks in the Middle East. Gold prices extended gains to scale a record high on Monday, driven by the momentum generated by the Federal Reserve's interest rate cut and safe-haven demand due to geopolitical risks in the Middle East. Spot gold rose 0.2% to $2,628.28 per ounce, as of 0349 GMT, after hitting a record high of $2,630.93 earlier in the session. The U.S. Fed began its easing cycle with a half-percentage point rate cut on Wednesday, forecasting another half-point cut by year-end and a full point next year. Fed futures traders have priced in 75 basis points in rate cuts by the end of this year, according to CME FedWatch.

Persons: Tim Waterer Organizations: KCM, U.S, Fed, FedWatch Locations: U.S, Israel, Lebanese

☆ Gold set for weekly gain on Fed rate cut boost
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: +2 min

Gold lingered near record high levels on Friday and was on track for a weekly gain after the Federal Reserve's recent super-sized interest rate reduction and on signs that further cuts were on the horizon. Spot gold rose 0.2% to $2,592.17 per ounce, as of 0309 GMT, up about 0.6% for the week so far. Bullion rose to a record high of $2,599.92 on Wednesday after the Fed began easing monetary policy with a half-percentage-point rate cut. "Gold prices are expected to be well supported in the coming months due to a weaker U.S. dollar and lower bond yields, as well as against a backdrop of elevated geopolitical tensions," BMI said in a note. Spot silver rose nearly 1% to $31.09 per ounce and palladium gained 0.6% to $1,086.75.

Persons: Gold, Kyle Rodda Organizations: Federal, Fed, Capital.com, BMI Locations: Birmingham, England, Capital.com . Lower U.S, East, Lebanon, Israel, Lebanese, China, Switzerland

☆ Gold holds ground after Fed's oversized rate cut
▼ + stars: | 2024-09-19 | by ( ) www.cnbc.com time to read: +2 min

Gold bars and gold coins of different sizes lie in a safe on a table at the precious metal dealer Pro Aurum. Gold prices held steady on Thursday after hitting a record high in the previous session, after the U.S. Federal Reserve delivered a super-sized interest rate cut. Spot gold was little changed at $2,562.85 per ounce, as of 0319 GMT after scaling a record high of $2,599.92 on Wednesday. Powell, however, said the economy remained strong, with many job market indicators like unemployment claims and even the current 4.2% unemployment rate not at worrying levels. Zero-yield bullion tends to be a preferred investment in a lower interest rate environment and during geopolitical turmoil.

Persons: Jerome Powell, Powell, Kelvin Wong, OANDA's Organizations: Aurum, U.S . Federal Reserve, Fed, Asia, Traders Locations: ., Lebanon

☆ Gold flat as investors focus on Fed
▼ + stars: | 2024-09-18 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were flat on Wednesday as investors weighed chances of an outsized interest rate cut by the Federal Reserve later in the day. Gold prices were flat on Wednesday as investors weighed chances of an outsized interest rate cut by the Federal Reserve later in the day. The Fed is expected to announce a cut to interest rates for the first time in more than four years at 1800 GMT. Markets are now pricing in a 65% chance of a 50-basis-point rate cut, compared with 34% a week earlier, according to the CME FedWatch tool. Zero-yield bullion tends to be a preferred investment in a lower interest rate environment and during geopolitical turmoil.

Persons: Jerome Powell, Matt Simpson, let's Organizations: Federal Reserve, Index Locations: ., Lebanon

☆ Gold hovers near record high ahead of Fed rate verdict
▼ + stars: | 2024-09-17 | by ( ) www.cnbc.com time to read: +2 min

An employee puts gold bullions into a safe deposit box at Degussa shop in SingaporeGold prices hovered near a record high on Tuesday, ahead of the anticipated start of the U.S. interest rate reduction cycle, which could see policymakers deliver an outsized cut. Spot gold was steady at $2,581.68 per ounce as of 0254 GMT. Bullion rose to a record high of $2,589.59 on Monday. Goldman Sachs reiterated its optimistic outlook on gold prices. "We find that ETF holdings backed by physical gold continue to rise gradually as the Fed policy rate comes down," it said in a note on Monday.

Persons: Yeap Jun Rong, there's, Nicholas Frappell, Goldman Sachs Organizations: U.S, U.S . Federal, ABC Refinery, Palladium Locations: Singapore, ., U.S .

☆ Gold prices at all-time highs as traders eye deeper U.S. rate cut
▼ + stars: | 2024-09-16 | by ( ) www.cnbc.com time to read: +2 min

Gold prices climbed to a two-week high on Thursday as U.S. Federal Reserve Chair Jerome Powell opened the door to cutting interest rates as early as September. Gold prices surged to record highs on Monday, driven by a softer dollar and expectations of a larger interest rate reduction by the U.S. Federal Reserve this week. Spot gold was up 0.5% at $2,588.29 per ounce, as of 0551 GMT, after hitting an all-time high of $2,589.23 earlier in the session. This would be Fed's first rate cut since 2020. Zero-yield bullion tends to be a preferred investment amid lower interest rates and geopolitical turmoil.

Persons: Jerome Powell, Tim Waterer, Donald Trump Organizations: Federal, U.S . Federal Reserve, KCM, Bank of England, Bank of Japan, Republican, FBI Locations: China, Japan, Indonesia, Malaysia, South Korea

☆ Gold rallies to record high on U.S. rate-cut optimism
▼ + stars: | 2024-09-13 | by ( ) www.cnbc.com time to read: +2 min

One kilogram gold bars are displayed for a photograph at the YLG Bullion International headquarters in Thailand on January 13, 2016. Gold prices soared to an all-time high on Friday as the dollar weakened amid prospects of a U.S. interest rate cut next week, while palladium has gained 15% so far this week. Spot gold was up 0.2% at $2,565 per ounce, as of 0258 GMT, after hitting a record high of $2,567.93 earlier in the session. The dollar fell to a one-week low, making gold less expensive for other currency holders. Palladium climbed 0.16% to $1,048.06 and was headed for the best week since Dec. 11, 2023, fueled by export curb concerns.

Persons: Bullion, Tim Waterer, Vladimir Putin Organizations: KCM, Monetary Fund, Fed, West Locations: Thailand, U.S, Moscow

☆ Gold inches higher as investors eye U.S. data for rate cues
▼ + stars: | 2024-09-12 | by ( ) www.cnbc.com time to read: +2 min

Gold prices edged higher on Thursday, with traders focusing on the upcoming U.S. economic data that may offer further insights into an expected reduction in the Federal Reserve's interest rate next week. Gold prices edged higher on Thursday, with traders focusing on the upcoming U.S. economic data that may offer further insights into an expected reduction in the Federal Reserve's interest rate next week. Data on Wednesday showed that U.S. consumer prices rose marginally in August, but underlying inflation showed some stickiness, which could discourage the Federal Reserve from delivering a half-point interest rate cut next week. CPI data showed no major inflation spikes, which is supporting gold prices to hold above $2,500 and suggesting no immediate changes to Fed policy, Wong added. Palladium climbed 1.3% to $1,021.84, its highest since July 8, following comments on export regulations from Russian President Vladimir Putin.

Persons: Kelvin Wong, OANDA's, Price, Wong, Vladimir Putin, Putin Organizations: Asia Pacific, Traders, U.S, PPI, Reserve, West Locations: U.S, Moscow

☆ Gold prices holds steady with U.S. CPI data on radar
▼ + stars: | 2024-09-11 | by ( ) www.cnbc.com time to read: +2 min

Gold bars and gold coins of different sizes lie in a safe on a table at the precious metal dealer Pro Aurum. Gold prices steadied on Wednesday, as investors keenly awaited the U.S. inflation data for hints on the size of the Federal Reserve's potential interest rate cut next week. The U.S. Consumer Price Index data is due at 1230 GMT, while the Producer Price Index reading and initial jobless claims are due on Thursday. The Fed will lower interest rates by 25 basis points at each of the three remaining policy meetings in 2024, according to a majority of economists in a Reuters poll. Zero-yield bullion tends to be a preferred investment amid lower interest rates and geopolitical turmoil.

Persons: Matt Simpson, Price, Jerome Powell's, Peter Fung, Yoav Gallant Organizations: Aurum, Federal, Index, U.S, Consumer, Metals Locations: Gaza, Lebanon

☆ Gold prices inch lower as U.S. inflation data looms
▼ + stars: | 2024-08-14 | by ( ) www.cnbc.com time to read: +2 min

Gold prices edged lower on Wednesday as investors remained on the sidelines ahead of a key U.S. inflation print later in the day that could set the tone for the Federal Reserve's September policy meeting. Gold prices edged lower on Wednesday as investors remained on the sidelines ahead of a key U.S. inflation print later in the day that could set the tone for the Federal Reserve's September policy meeting. Data on Tuesday showed that U.S. producer prices increased less than expected in July, reinforcing market view that cooling inflation will allow the Federal Reserve to cut interest rates soon. Atlanta Fed President Raphael Bostic said he wants to see "a little more data" before he's ready to support lowering interest rates. Gold, often used as a hedge against geopolitical risks, thrives when interest rates are low.

Persons: Kyle Rodda, Raphael Bostic, Ismail Haniyeh Organizations: Federal, Fed, Federal Reserve, Traders, Atlanta Fed, Investors Locations: U.S, Iran, Gaza, Israel

☆ Gold dips as investors book profits, U.S. inflation data in focus
▼ + stars: | 2024-08-13 | by ( ) www.cnbc.com time to read: +2 min

Prices rose more than 1% in the previous session. "Prices will benefit if the U.S. inflation data comes in on the softer side of the ledger, which would reignite hopes of an aggressive rate cut from the Fed in September." The CPI data is expected to show that headline and core prices rose 0.2% month-on-month. Markets see about 50% chance of a 50 basis point rate cut in September, according to the CME FedWatch Tool. "If markets become more optimistic of a 50 bp cut coming to fruition, this could propel the gold price to make a run at the $2,500 level," Waterer said.

Persons: Alexander Manzyuk Gold, Tim Waterer, Waterer, Benjamin Netanyahu Organizations: REUTERS, Federal, KCM, Fed, Traders Locations: Siberian, Krasnoyarsk, Russia, U.S, Gaza

☆ Gold subdued as investors focus on U.S. inflation data
▼ + stars: | 2024-08-12 | by ( ) www.cnbc.com time to read: +1 min

Gold prices struggled for momentum on Monday as investors looked forward to a key inflation report that could shed more light on the U.S. central bank's next policy move. Spot gold eased 0.13% to $2,427.86 per ounce by 0352 GMT, trading in a narrow $10 price range. The U.S. consumer price index data, due on Wednesday, is expected to show that headline and core prices rose 0.2% month-on-month. "Further inflation progress reflected in the upcoming CPI data could see gold eye for a retest of its all-time high once more," said IG market strategist Yeap Jun Rong. Among other metals, spot silver fell 0.3% to $27.36 per ounce, platinum shed 0.47% to $917.83 and palladium fell 0.2% to $903.48.

Persons: Ilya Spivak, Yeap Jun Rong, Michelle Bowman Organizations: Metals, U.S, Federal, Hamas Locations: Krasnoyarsk, Russia, bank's, U.S, Gaza

☆ Gold rises more than 1% on safe-haven demand, Fed rate-cut optimism
▼ + stars: | 2024-08-08 | by ( ) www.cnbc.com time to read: +2 min

Prices of safe-haven gold edged higher on Thursday, supported by Middle East tensions and optimism surrounding U.S. rate cuts, while traders awaited economic data for clues on the Federal Reserve's policy trajectory. Gold prices rose more than 1% on Thursday, supported by firm safe-haven demand and growing expectations for a sizeable interest rate cut from the U.S. Federal Reserve in September. Spot gold rose 1.27% to settle at $2,463.3. Brokerages including J.P.Morgan, Citigroup and Wells Fargo have forecast a 50-basis-point interest rate cut by the Fed in September after last week's U.S. jobs data. Gold prices fell as much as 3% on Monday, caught in a global sell-off driven by fears of a U.S. recession.

Persons: Alex Ebkarian, Bullion Organizations: Federal, U.S . Federal Reserve, J.P.Morgan, Citigroup, Fed Locations: Iran, Israel, Wells, U.S

☆ Gold buoyed by Fed rate-cut hopes, geopolitical concerns
▼ + stars: | 2024-08-07 | by ( ) www.cnbc.com time to read: +2 min

An employee handles one kilogram gold bullions at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices firmed on Wednesday on mounting bets of U.S. interest rate cuts in September and rising geopolitical tensions in the Middle East, with markets awaiting U.S. economic data for clues on the Federal Reserve's interest rate path. Spot gold rose 0.4% to $2,399.38 per ounce, as of 11:29 a.m. Bullion is considered a hedge against geopolitical and economic uncertainties and tends to thrive in a low interest rate environment. Meanwhile, China's central bank held back on buying gold for its reserves for a third straight month in July, official data showed on Wednesday.

Persons: Everett Millman, Bart Melek, they're, Millman Organizations: Co, Gainesville, TD Securities Locations: Bangkok, Thailand, U.S, Israel, China's, China

☆ Gold nudges higher on mounting U.S. rate cut bets
▼ + stars: | 2024-08-06 | by ( ) www.cnbc.com time to read: +2 min

An employee handles one kilogram gold bullions at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices edged higher on Tuesday after comments from Federal Reserve officials reinforced expectations of bigger U.S. interest rate cuts later this year. Spot gold was up 0.1% to $2,408.77 per ounce as of 0354 GMT. Fed San Francisco President Mary Daly said her mind was open to cutting interest rates as necessary and policy needed to be proactive. Meanwhile, Japanese stocks opened higher, underpinning a recovery across battered Asian share markets and even triggering circuit breakers in some.

Persons: Mary Daly, Soni Kumari Organizations: Co, Federal Reserve, San, ANZ, Traders Locations: Bangkok, Thailand, U.S, San Francisco, China

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